K-Swiss continues to expand its brands with the recent purchase of Supra and KR3W as of last Friday, May 29, 2015. So far the terms of the deal are unknown, but apparently, K-Swiss has been looking at Supra for some time.
In an interview with Footwear News, Larry Reminton, President and CEO of K-Swiss Brands said, “One of the criteria was to find a brand that wouldn’t cannibalize our other brands. K-Swiss is an American heritage tennis brand, Palladium Boots is a casual footwear brand, we have a comfort brand such as Otz, and PLDM is a French fashion brand. Supra and KR3W, born from skate and then [growing into] the action area, really fits in nicely.”
K-Swiss sees potential growth for the brand especially in Europe, Asia, and China.
Founder Angel Cabada and CEO Scott Bailey will transition to advisory roles, and a new President has been placed on board, Robert Capener, who comes from Above the Rim and formerly, Adidas, No Fear, and Reebok.
K-Swiss said it plans to continue acquiring footwear brands in categories including workboots, sandals, and hiking markets. “We see ourselves somewhere around 2020 as being a $3 billion company with 10 brands,” he said. “Right now, we operate six brands, so we have a ways to go.”
